Indian
Indices: Indian
equity benchmarks extended their previous session gain as investors remained
bullish about the prospects of a good monsoon. The benchmark indices -- BSE
Sensex touched fresh all-time intra-day high of 30,590.71, while the NSE
index Nifty touched a new peak of 9,517.20 in trade. The equity benchmarks
made a positive start in early deals as traders took support from industry
body FICCI’s latest Economic Outlook Survey which pegged India’s gross
domestic product (GDP) growth at around 7.4 percent for the fiscal year
2017-18. The survey was conducted during March and April 2017 and recorded a
median GDP group forecast of 7.4 percent for the current fiscal year, with a
minimum and maximum level of 7 percent and 7.6 percent respectively. The
pick-up in overall GDP growth will also be supported by an improvement in
industry and services sector growth. Some support also came with the report
that India’s monsoon rains are expected to arrive on the southern Kerala
coast on May 30, two days ahead of schedule. India looks likely to receive
higher monsoon rainfall than previously forecast as concern over the El Nino
weather condition has eased.

The BSE
Sensex ended at 30587.36, up by 265.24 points or 0.87% after trading in a
range of 30363.37 and 30590.71. There were 22 stocks advancing against 8
stocks declining on the index. The broader indices ended in green; the BSE
Mid cap index was up by 0.27%, while Small cap index was up by 0.36%.

The CNX Nifty
ended at 9509.70, up by 64.30 points or 0.68% after trading in a range of
9456.35 and 9517.20. There were 36 stocks advancing against 15 stocks
declining on the index

MARKET INDICATORS

·

Top Movers (Group A)

Company

Cmp

% chg

Gainers

Unitech

6.19

11.13

J&KBank

88.65

8.71

KEC

247.95

7.31

Indhotel

144.35

5.17

Losers

CholaFin

1016.95

-3.10

IL&Fstrans

114.20

-2.89

Godrejcp

1876.05

-2.61

Bharatfin

790.85

-2.36

INDEX
PERFORANCE

Index

Close

% Chg

Sensex

30,582.60

0.86

Nifty

9,512.25

0.71

Crporate Front:

The Indian Government has said that it is
planning to build multimodal logistic parks at 15 places across the country
with an investment of Rs 33,000 crore. As per reports, the National Highways
Authority of India (NHAI) inked a pact with the Tamil Nadu government for one
such park. The NHAI signed anMoU with the Tamil Nadu Industrial Development
Corporation Ltd (TIDCO) in New Delhi today, for the development of a
multimodal logistics park in the Ponneri Industrial Node area near Kamarajar
Port in Tamil Nadu.

Macroeconomic front:The Reserve Bank of India today fixed the reference
rate of the rupee at 64.0758 against the US dollar and 70.5539 for the euro.
The corresponding rates were 64.1188 and 70.1332, previously. According to an
RBI statement, the exchange rates for the pound and the yen against the rupee
were 82.7795 and 56.52 per 100 yens, respectively, based on reference rates
for the dollar and cross-currency quotes at noon.

On
the global front:

On the global front, European markets were
trading in green, as investors look beyond global cybersecurity threats and
the latest North Korean missile test. Asian markets were also trading in
green. Back home, in scrip specific development, Fortune Financial Services
(India) edged higher after the company acquired 49,00,000 equity shares of Rs
10 each fully paid of ITI Gilts (earlier known as Crest Debt Capital
Markets). The Company was already holding 51% of the paid up capital of ITI
Gilts and now on acquisition of these 49,00,000 equity shares, ITI Gilts has
become a wholly owned subsidiary of the company.

Commodity
Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28028.00

0.33

Silver

38672.00

0.44

Crude oil

3153.00

0.13

Natural Gas

215.50

0.23

Alluminium

122.70

0.37

Copper

360.30

-0.35

Top Sectoral& Stock Screening:The top gaining sectoral indices on the
BSE were Telecom up by 1.90%, TECK up by 1.10%, IT up by 1.06%, FMCG up by
1.02% and Auto up by 0.99%, while Metal down by 0.61% was the sole loser on
BSE.

Top Nifty Movers:The top gainers on Nifty were Hero
MotoCorp up by 3.06%, ACC up by 2.86%, TCS up by 2.54%, BhartiAirtel up by
2.43% and Bank of Baroda up by 2.33%. On the flip side, Kotak Mahindra Bank
down by 1.65%, Indiabulls Housing down by 1.10%, ONGC down by 0.88%, Mahindra
& Mahindra down by 0.84% and Zee Entertainment down by 0.84% were the top
losers.